This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, October 14, 2016.
In The Markets
Emini S&P – ESZ6 (Dec ’16)
Counter trend bounce looks to be headed back up to 2142.00 for a short-entry. Realize it might take some time to turn over as the weekly EMA’s are still bullish.
Gold – GGCZ6 (Dec ‘16)
Trading quite nicely from the 4hr chart – testing support this morning, keep an eye on the USD as it’s been very bullish. Please note, the metals are still bullish on the weekly charts.
Soybeans – ZSX6 (Nov ‘16)
WASDE this week some plus some fundamental news coming out of China creating a nice pop in the Grains sector from their recent lows. Top of the channel for now if the pattern switches it will probably take a few days or even weeks.
I added the weekly chart as a bonus – showing the bearish cross developing.
Crude Oil WTI – GCLX6 (Nov ’16)
To me it looks like it’s trying to create a lower high from the 53.39.
T-Bonds – ZBZ6 (Dec ’16)
T-Bonds breaking through support this morning – on its way to making new recent lows.
U.S. Dollar – DX-MZ6 (Dec ’16)
Continues to build cause for higher prices – I would expect momentum to start slowing down in the coming few days, countertrend retrace then higher prices.
The Week Ahead
- 10/18 – CPI 8:30AM ET
- 10/18 – TIC 4:00PM ET
- 10/19 – ATL Fed Expectations 10:00AM ET
- 10/19 – EIA Petro Report 10:30AM ET
- 10/19 – Beige Book 2:00PM ET
- 10/20 – Jobless Claims 8:30AM ET
- 10/20 – William Dudley Speaks 8:30AM ET
- 10/20 – EIA Nat Gas report 10:3AM ET
- 10/21 – Rig Count 1:00AM ET
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